Danica Pension Livsforsikringsaktieselskab Purchases 41,404 Shares of ServiceNow, Inc. $NOW

Danica Pension Livsforsikringsaktieselskab grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 28.7% during the first quarter, Holdings Channel reports. The institutional investor owned 185,429 shares of the information technology services provider’s stock after purchasing an additional 41,404 shares during the quarter. Danica Pension Livsforsikringsaktieselskab’s holdings in ServiceNow were worth $19,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Florida Financial Advisors LLC raised its stake in ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock valued at $280,000 after acquiring an additional 14 shares during the period. Clark Capital Management Group Inc. lifted its holdings in ServiceNow by 3.6% during the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after purchasing an additional 18 shares during the last quarter. American Trust boosted its position in ServiceNow by 1.8% during the third quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock worth $947,000 after purchasing an additional 18 shares during the period. Morse Asset Management Inc boosted its position in ServiceNow by 0.5% during the second quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock worth $3,586,000 after purchasing an additional 19 shares during the period. Finally, CYBER HORNET ETFs LLC increased its stake in shares of ServiceNow by 3.7% in the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock worth $522,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of ServiceNow in a research report on Monday, June 29th. Citigroup reaffirmed a “buy” rating and issued a $156.00 price objective (down from $158.00) on shares of ServiceNow in a report on Wednesday, July 15th. Oppenheimer reiterated an “outperform” rating and issued a $140.00 price objective (up from $130.00) on shares of ServiceNow in a research note on Wednesday, July 15th. Stifel Nicolaus reduced their price objective on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, Weiss Ratings cut shares of ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.12.

ServiceNow Price Performance

NOW stock opened at $102.04 on Wednesday. The firm has a 50 day moving average of $104.50 and a 200-day moving average of $108.56. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $210.20. The firm has a market capitalization of $105.20 billion, a P/E ratio of 60.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.96.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 earnings per share. As a group, sell-side analysts predict that ServiceNow, Inc. will post 2.33 earnings per share for the current fiscal year.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Jefferies expects ServiceNow to deliver solid second-quarter results, with subscription revenue and cRPO likely coming in above guidance. The firm also sees a possible raise to full-year subscription revenue guidance, supported by strong execution, early contract renewals, and AI-related demand. Article Title
• Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 and kept an overweight rating, signaling confidence in upside if earnings and guidance remain strong. Article Title
• Positive Sentiment: Morgan Stanley said software sentiment has become “too negative” and named top picks in the sector, reinforcing the idea that high-quality software names like ServiceNow could rebound if the market mood improves. Article Title
• Neutral Sentiment: ServiceNow is in the spotlight ahead of earnings, with mixed analyst views and a bearish technical setup adding uncertainty into the report. Article Title
• Neutral Sentiment: ServiceNow is expected to report after the market close on July 22, and several articles frame the stock as a high-stakes earnings setup rather than a clear fundamental change. Article Title
• Negative Sentiment: CLSA initiated coverage with a bearish view, which has added pressure ahead of earnings and contributed to cautious investor sentiment around the name. Article Title
• Negative Sentiment: A separate security report said a critical ServiceNow code-execution flaw is being exploited in attacks, which could create near-term reputational and security concerns for the company. Article Title

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,071 shares of company stock valued at $2,529,956 in the last quarter. 0.34% of the stock is currently owned by company insiders.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.